RATE Group | Over $900K in Bitcoin Went to Child Sexual Abuse Material Providers in 2019, Says Chaina…
86357
post-template-default,single,single-post,postid-86357,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Over $900K in Bitcoin Went to Child Sexual Abuse Material Providers in 2019, Says Chaina…

21 Apr Over $900K in Bitcoin Went to Child Sexual Abuse Material Providers in 2019, Says Chaina…

Posted at 18:22h in Bitcoin News by

New York-based blockchain intelligence firm Chainalysis has published its latest analysis of the use of cryptocurrencies to purchase child sexual abuse material (CSAM) on the darknet.

In a report shared with Cointelegraph on April 22, Chainlaysis noted that it had traced just under $930,000 worth of Bitcoin (BTC) payments to addresses associated with CSAM providers in 2019. This represents a 32% increase over 2018, which had in turn presented a 212% increase over the previous year.

Bitcoin (BTC) payments to CSAM providers, 2015-2020

Bitcoin (BTC) payments to CSAM providers, 2015-2020. Source: Chainalysis

Nonetheless, Chainalysis emphasized that this stark year-on-year rise is not necessarily reflective of an absolute rise in CSAM demand, but is likely to reflect a rise in the level of adoption of cryptocurrencies across all sectors.

How to decode the warning signs

$930,000 in Bitcoin represents “a miniscule fraction of all cryptocurrency activity” — and yet the industry should be concerned about such usage of cryptocurrencies in a…

Source link

Tags:
, , , , , , , ,